Gautam Solar Private Limited is set to invest Rs 40 billion to establish a solar cell manufacturing facility in Gwalior, Madhya Pradesh.
The facility will be developed on 54 acres of land and will be utilised for the production of advanced tunnel oxide passivated contact solar cells with a total planned capacity of 5 GW. The project implementation has commenced with phase 1. This phase involves establishing a solar cell manufacturing capacity of 2 GW. Furthermore, the development of this phase is anticipated to be over by 2026. Moreover, the company aims to launch an initial public offering to raise funds for phase 2 once phase 1 has been completed. Phase 2 will consist of an additional 3 GW capacity.